Harlan Lunsford wrote:

- quote -

Easy to do that! W4PYM? In Dahlonega, GA?

--
----------------------------- Regards -

- Andrew

--
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Arthur Kamlet wrote:
- quote -

myself) operated under the college's call letters. (North Georgia
College if you can find their current license.)

ChEAr$,
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Harlan Lunsford wrote:
- quote -

Right you are on that - sri and thanks for the clarification!

--
----------------------------- Regards -

- Andrew

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <37tnj.13360$1f.2222[at]bignews9.bellsouth.net> ,
Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:
- quote -


Harlan,


Thanks for remembering. But I guess you let your ticket expire?


Mine started out as KN2PZH in 1955 -- back when they had a Novice
license.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

--
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Andrew wrote:
- quote -

per share. Man oh man, what a year! First I'm going to get a big
check for excess credit card fees paid on overseas transactions; then
a nice 1200$ tax rebate/prebate maybe in May...... ! This is my lucky year!

However, you may have me mixed up with Art Kamlet who is the resident
ham operator on this board. Just because back about 1956 or so I
participated in a hamfest and set up a station on top of Blood Mountain
in Georgia, didn't exactly carry over as one of today's hobbies.
(But after the heavy batteries gave out that cold October night atop the
mountain, that beer sure was good!)

ChEAr$,
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Harlan Lunsford wrote:
- quote -

Thanks all both for the info. As far as being lucky, for years Harlan I've
been receiving mail about pending lawsuits re/Enron, and stuffed them into a
folder. I did the same in my last mailing received last week, but it wasn't
until I read an article in the Wall Street Journal on page A13 (1/17/2008)
that informed me that "stock holders are learning this week " about our good
fortune! $6.79 / share recovery.

Now I don't have the check yet! A hearing on Feb 29 will be held to discuss
how the $ will be disbursed. Note in my note I said "when I finally get a
check" - maybe I should have read "when I get a check".

(Besides Harlon, I need one of those new Yaesu IF DSP transceivers to
replace an old Kenwood TS940 I've been using for years for some good DX work
on 20 CW. Dit Dit. 73.)


--
----------------------------- Regards -

- Andrew

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Andrew wrote:
- quote -

And just how are you so lucky? Are all stockholders in the money, too?
IMWTK! and fast!

ChEAr$,
Harlan Lunsford, EA n LA
uh huh, me too.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Andrew wrote:
- quote -

for losses incurred in the IRA and is not a contribution. It
will be treated as IRA earnings and will be not be taxed. If you
cash it, it is the same thing as taking a distribution from your
IRA and will be subject to tax and any early withdrawal penalty.
Technically, it is your IRA that would have been part of the
class action suit. Any payment should have been made out to IRA
account name and not to you personally.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Seems like I will finally get some restitution for the small amount of Enron
Stock I had in my traditional IRA. I hope that I'll receive some
instructions when I finally get a check, but I imagine this has happened in
the past that worthless stock in a traditional IRA has a class action
settlement and checks are distributed to the former share holders.
Apparently, I am lucky enough to finally get my due.

My former position in the stock within the IRA was deemed worthless, and at
some point, the FI simply withdrew the book shares from my account.

So now, 5 or so years later, I get a small check as part of the so-called
"Newby" class action settlement. What's the tax treatment of this? Am I
obligated to put the $ back into the traditional IRA (which I can no longer
contribute deductible contributions to now anyway if that has anything to do
with this) and that's that? Or can I simply cash it in, knowing (which I
don't) that I'll get a 1099MISC later as ordinary income? I haven't a clue
what I need to do and what I might get...anyone know?


--
----------------------------- Regards -

- Andrew


========================================= MODERATOR'S COMMENT:
The claim should have been in the name of the IRA. Now you should
try to deposit it back in the IRA, telling the IRA Custodian it is not a
new contribution but should be coded by them as IRA earnings or dividend.
If done corrctly, you will not have anything to do at tax time.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >